Old English wudu, earlier widu "tree, trees collectively, forest, grove; the substance of which trees are made," from Proto-Germanic *widu- (source also of Old Norse viðr, Danish and Swedish ved "tree, wood," Old High German witu "wood"), from PIE *widhu- "tree, wood" (source also of Welsh gwydd "trees," Gaelic fiodh- "wood, timber," Old Irish fid "tree, wood"). Out of the woods "safe" is from 1792.
suffix added to nouns to produce adjectives meaning "made of, of the nature of" (such as golden, oaken, woolen), corresponding to Latin -anus, -inus, Greek -inos; from Proto-Germanic *-ina- (from PIE *-no-, adjectival suffix).
Common in Old, Middle, and early Modern English: e.g. fyren "on fire; made of fire," rosen "made or consisting of roses," hunden "of dogs, canine," beanen "of beans," baken "baked," breaden "of bread;" Wyclif has reeden made of or consisting of reeds." The few surviving instances are largely discarded in everyday use, and the simple form of the noun doubles as adjective (gold ring, wool sweater). Some are used in special contexts (brazen, wooden).
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<a href="https://www.etymonline.com/word/wooden">Etymology of wooden by etymonline</a>
Harper, D. (n.d.). Etymology of wooden. Online Etymology Dictionary. Retrieved $(datetime), from https://www.etymonline.com/word/wooden